REUTERS NEXT: Crypto entrepreneur Sun looking at FTX ventures’ portfolio companies
LONDON (Reuters) – FTX’s venture capital arm has assets that could be worth investing in, but since the failed crypto exchange has entered Chapter 11 bankruptcy proceedings the process could take time, cryptocurrency entrepreneur Justin Sun said on Wednesday.
“FTX Ventures still has lots of portfolio (companies) and we are going through them one by one, but right now it is already in the Chapter 11 process so it might take a longer time to finish the process,” Sun told a Reuters Next conference.
Sun founded the crypto platform Tron and is member of cryptoexchange Huobi’s global advisory board. He did not specify which organisation specifically was looking at the assets in the interview.
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(Reporting by Elizabeth Howcroft, writing by Alun John, editing by Louise Heavens)